By Lydia Kibet
The marijuana industry is on fire.
It is a chance of a lifetime to grab the golden opportunity to start a marijuana business. That’s good news because the marijuana industry is burgeoning today, and a cannabis business could be a lucky chance for your success.
Whether you’re a cannabis beginner or a veteran, there are several cannabis business opportunities that could be of interest to you. Now that medical and recreational marijuana is legal in some U.S. states, chances to make greenbacks on the budding industry is superabound.
Here are 7 creative ideas for individuals looking to cash in on the green rush, but not looking to do plant-touching:
7 Creative Ideas to Cash in on Marijuana Business Opportunities
- Marijuana Consulting Firm
- Marijuana Painting Class
- Marijuana Delivery Business
- Edibles Company
- Cannabis Cosmetics
- Marijuana Tours
- Cannabis PR Firm
1. Marijuana Consulting Firm
New marijuana businesses need consulting firms to kickstart their brands the right way. Individuals looking to start a “canna-business” often require help and guidance to ensure that they’re on the right side of the law.
If you have a knack on the legal side of marijuana, this could be a huge opportunity to jump into the industry — and share the knowledge you’ve gained.
With a marijuana consulting firm, you can help commercial cannabis cultivation startups with everything from branding, marketing, design, regulatory compliance, and more. There’s a potential to earn some handsome money in this $4 billion legal marijuana market.
If you begin with a home-based business, you could need an investment of somewhere in the ballpark of $5,000 to start a cannabis consulting firm. This should cover a beautifully designed website to market your services, insurance, and perhaps business cards.
However, to be successful in this business opportunity, you need an in-demand skill set, especially the law surrounding cannabis. If you have the right legal education, and you’re passionate about cannabis law, you should consider getting into the marijuana consulting business.
2. Start Marijuana Painting Classes
You’re perhaps aware of how popular wine painting classes have become. But, have you heard about marijuana painting classes?
If you fancy the idea of art, you can broaden your business and incorporate cannabis painting classes. For several marijuana lovers, smoking the herb allows them to wind down and unleash the creative side.
Marijuana painting classes allow cannabis connoisseurs to take hits while passing a joint or a dab rig while connecting with their inner Picasso, one brushstroke after another.
Anyone considering starting a pot-friendly painting business should be intimately aware of the local legal marijuana businesses and the laws concerning consumption zones. Also, you should know where you plan to operate your business as weed will be consumed during classes.
While laws vary from state to state, since you may not sell or distribute marijuana, there’s no need for any special licenses. However, it’s crucial to speak to a lawyer before you start marijuana painting classes because there’s so much legal red tape.
Art is thrilling when the herb touches your soul. Cannabis painting classes offer connoisseurs and fellow artists a chance to come together and unleash their creative art. So, it’s a chance to bring cannabis enthusiasts together to have fun.
3. Start a Marijuana Delivery Business
Transportation services such as Uber and Lyft have gained traction, and on-demand delivery for medical and recreational marijuana is insufficient. This is an excellent opportunity to join the industry by contracting with dispensaries, local firms, and more — and become the Uber of marijuana delivery.
When it comes to marijuana deliveries, launching an app-driven marijuana dispensary-to-door service is the best way to up your game in the industry.
For example, the Silicon Valley tech startup launched Eaze — a medical pot app that has helped the company scale revenues insanely.
It has chauffeured buds to thousands of card-carrying medical marijuana patients in nearly 100 California cities. The app incorporates the signup flow and onboarding of new medical marijuana patients. It also offers directions and predictive analytics that assist drivers in getting to different locations. Not to mention patient verification, customer service, and the orders made via the app.
That being said, a medical marijuana app will enhance not only your business but also an opportunity to do what other companies in the cannabis industry don’t do. This is because of the direct access to patients. The good news is, an app doesn’t need any special license; a standard business license is ideal.
However, starting an on-demand app like Eaze is pretty expensive.
For starters, simply contract with local firms or dispensaries and use Uber transport services to make deliveries and make money.
4. Starting an Edibles Company
Not everyone has a flair for smoking, with the stop smoking promotions in the U.S, many people are cutting out smoking out of their lifestyle. This doesn’t mean individuals who don’t smoke don’t use marijuana; instead, they eat.
Edibles are rapidly gaining momentum in the marijuana industry, simply because they are discreet and can be consumed anywhere anytime. They are also fancied by consumers who wish to quit smoking cannabis or need long-lasting effects.
According to BDS analytics, edibles made up 12% of the market share in Washington, Colorado, and Oregon in 2016. If you have a knack in culinary, you can start baking and selling edibles infused with cannabis. You can start with some, including cookies, pies, brownies, candy, and chocolate bars — then grow your business slowly.
While selling edibles with weed is still illegal, but you can sell edibles with medical-grade marijuana. Once you’ve identified the flavors your customers fancy, bake a ton of edibles and start making bucks.
If cooking and baking sounds up right your alley, this could be the marijuana business opportunity for you.
5. Open a Cannabis Cosmetics
Marijuana has found a spot in the cosmetics and beauty industry, and it’s indeed a creative business idea.
The cannabis plant has a lot of things valuable to nearly every aspect of the human way of living. Since marijuana can heal and repair the skin, you can start a cosmetics company and produce cannabis-infused products like creams, massage oils, lotions, moisturizers, soaps, and much more.
This idea would be much easier if you’re already into a similar business — all you need to do is to incorporate medical-grade marijuana to your list of ingredients. There’s an endless list of cosmetic products available these days that contain CBD.
You can imagine even those who don’t consume cannabis love them.
The marijuana industry is on fire with its line of hemp-infused products, even the famous actress Whoopi Goldenberg has her own line medical marijuana topicals. Why not try your hand in making any of these on-demand beauty products and make enormous profits?
6. Marijuana Tours
If you live in a state where the drug is legal, leading cannabis-themed tours is an ideal business opportunity.
For outdoor lovers who enjoy hiking, biking, this can be a fun, exciting, and effective way to exercise.
With marijuana legalization and its use on the rise throughout the United States, more and more marijuana tours are winding their way through states where the herb is legal. Most travelers love the idea of marijuana tours, and they’re ready to pay for the experience.
You can take your visitors to 420-friendly locations, such as dispensaries and other local hotspots that can offer them a good time.
7. Cannabis Public Relations Firm
While marijuana can be used legally within a state, there is still misconception and stigma linked to it.
This is a challenge for nearly every business encounter. This means there’s a gap handy for public relations firms in the industry to aid in cannabis-related businesses — to educate the public and get to the bottom of any stigma.
If you have a flair in public relations and a robust network of journalists and reporters, this could be an excellent opportunity to add value to the marijuana industry. Several Cannabis businesses struggle to get coverage beyond the trade publications.
So, a cannabis PR firm can help educate reporters and journalists to do away with dangerous misinformation and stigma that’s disseminating.
Wrap Up on Creative Marijuana Business Opportunities
Marijuana is relaxing, and today it serves as a phenomenal medicine for various ailments — that’s why it has gained popularity over the recent years. With the seven creative business ideas, you can find the right opportunity that suits your needs. While there’s an endless list of business opportunities, consider your startup capital and what interests you more to profit in the industry.